XML 58 R35.htm IDEA: XBRL DOCUMENT v3.23.2

EARNINGS PER SHARE AND UNIT AND SHAREHOLDERS' EQUITY AND CAPITAL (Tables)

6 Months Ended

Jun. 30, 2023

EARNINGS PER SHARE AND UNIT AND SHAREHOLDERS' EQUITY AND CAPITAL

Summary of the elements used in calculating basic and diluted earnings per common share

Earnings per common share and shareholders’ equity

​

The following is a summary of the elements used in calculating basic and diluted earnings per common share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

​

Six Months Ended June 30,

​

​

2023

​

2022

​

2023

​

2022

​

​

(dollars and units in thousands, except per share amounts)

Net income

$

98,283

$

58,594

​

​

$

196,225

​

​

$

96,860

Noncontrolling interests in the Operating Partnership

​

(616)

​

(379)

​

​

(1,230)

​

​

(671)

Noncontrolling interest in subsidiaries

​

212

​

143

​

​

450

​

​

324

Net income attributable to the Company’s common shareholders

​

$

97,879

​

$

58,358

​

​

$

195,445

​

​

$

96,513

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average basic shares outstanding

​

225,388

​

224,960

​

​

225,342

​

​

224,812

Share options and restricted share units

​

887

​

935

​

​

896

​

​

1,008

Weighted average diluted shares outstanding (1)

​

226,275

​

225,895

​

​

226,238

​

​

225,820

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic earnings per share attributable to common shareholders

​

$

0.43

​

$

0.26

​

​

$

0.87

​

​

$

0.43

Diluted earnings per share attributable to common shareholders (2)

​

$

0.43

​

$

0.26

​

​

$

0.86

​

​

$

0.43

​

​

Earnings per common unit and capital

​

The following is a summary of the elements used in calculating basic and diluted earnings per common unit:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

​

2023

​

2022

​

2023

​

2022

​

​

(dollars and units in thousands, except per unit amounts)

Net income

$

98,283

$

58,594

​

$

196,225

​

$

96,860

Operating Partnership interests of third parties

​

(616)

​

(379)

​

(1,230)

​

(671)

Noncontrolling interest in subsidiaries

​

212

​

143

​

450

​

324

Net income attributable to common unitholders

​

$

97,879

​

$

58,358

​

$

195,445

​

$

96,513

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average basic units outstanding

​

225,388

​

224,960

​

225,342

​

224,812

Unit options and restricted share units

​

887

​

935

​

896

​

1,008

Weighted average diluted units outstanding (1)

​

226,275

​

225,895

​

226,238

​

225,820

​

​

​

​

​

​

​

​

​

​

​

​

​

Basic earnings per unit attributable to common unitholders

​

$

0.43

​

$

0.26

​

$

0.87

​

$

0.43

Diluted earnings per unit attributable to common unitholders (2)

​

$

0.43

​

$

0.26

​

$

0.86

​

$

0.43

​

(1) For the three and six months ended June 30, 2023, the Company declared cash dividends per common share/unit of $0.49 and $0.98, respectively. For the three and six months ended June 30, 2022, the Company declared cash dividends per common share/unit of $0.43 and $0.86, respectively.

​

(2) The amount of anti-dilutive options that were excluded from the computation of diluted earnings per share/unit was 0.7 million for both the three and six months ended June 30, 2023 and 0.3 million for both the three and six months ended June 30, 2022.

Summary of OP and Common units

​

​	​	​	​	​
​	​	As of June 30,
​	​	2023	​	2022
Outstanding OP units		1,418,549	​	1,460,520
Outstanding common units	​	224,797,239	​	224,452,547

X

- References

No definition available.

+ Details

Name:	cube_EarningsPerShareAndStockholdersEquityNoteDisclosureAbstract
Namespace Prefix:	cube_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-4

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-5

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481142/505-10-45-2

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-10

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480244/480-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

Name:	us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration